A joint venture between Swedish pension fund Alecta and airport operator Swedavia has acquired a portfolio of airport real estate assets in a deal with an underlying value of SEK 3.95 bn (€420 mln).
A joint venture between Swedish pension fund Alecta and airport operator Swedavia has acquired a portfolio of airport real estate assets in a deal with an underlying value of SEK 3.95 bn (€420 mln).
The transaction relates to 20 properties, providing 260,000 m2 of leasable space for logistics, hangars and offices, at Sweden's three largest airports: Stockholm Arlanda Airport, Göteborg Landvetter Airport and Malmö Airport.
Alecta and Swedavia will hold equal stakes in the new joint venture company which will own and manage the assets.
Among the properties included in the agreement are the Technical Base, Flight Academy and Cargo Center at Stockholm Arlanda Airport as well as GOT Cargo North & South at Göteborg Landvetter Airport.
'It is very gratifying that we have signed a long-term agreement with Swedavia. To be able to acquire part of a property portfolio of an infrastructure nature that generates stable cash flows makes a positive contribution to our total return. The portfolio has attractive development potential which we hope can be realised together with our new partner, Swedavia,' said Fredrik Palm, director of Swedish properties at Alecta.
'We are naturally very pleased to have Alecta as a partner. The collaboration gives us a stable foundation on which Swedavia can continue to work and invest in order to develop our international hubs and thus enhance Swedish access,' added Swedavia CEO Torborg Chetkovich.
